LEHI, Utah, March 14, 2023 (GLOBE NEWSWIRE) — Xevant, the leader and creator of automated data analytics for organizations managing pharmacy benefits, is pleased to announce the completion of a new investment round with HCAP Partners, a California-based private equity firm and nationally recognized impact investor.
As the most comprehensive, independent pharmacy analytics platform available, Xevant offers pharmacy benefit managers, payers, hospitals, and consultants customized solutions with the ability to streamline decades-old analytic processes – ultimately resulting in lower drug costs and optimized performance and efficiencies. With this latest round of investment, the company will further expand its unique position to positively impact pharmacy benefit stakeholders and advance its long-held mission of revolutionizing healthcare services with its real-time automation platform.
“Xevant’s innovative solutions and talented team of experts are changing the way that access, quality, and cost issues are approached by healthcare stakeholders,” said Frank Mora, HCAP Senior Partner. “We are excited to enter this partnership as the company embarks on the next phase of its growth journey and continues to bring world class solutions to market.”
Brandon Newman, Xevant CEO, commented, “The successful completion of our latest investment round is a testament to the strength and potential of Xevant. This new infusion of capital will enable us to accelerate our growth plans, expand our team, and continue delivering cutting-edge solutions that drive value and improve outcomes in healthcare. We are grateful for the support and confidence from HCAP Partners and look forward to the exciting opportunities ahead.”
Xevant’s revolutionary pharmacy benefits platform infuses real-time automation and alerts throughout the data analysis process accelerating and simplifying the painstaking task of report building for PBMs, TPAs, Health Plans, Brokers, and Consultants. With Xevant, critical pharmacy analysis that took weeks, months or more can now be done instantly. The results are optimized business processes, reduced operating costs, and improved patient outcomes. Xevant is recognized as one of Modern Healthcare’s Best Places to Work and America’s No. 1 Fastest Growing Private Software Company on the 2022 Inc. 5000 list. Visit www.xevant.com and follow Xevant on LinkedIn for more information about how it helps its customers deliver faster, more accurate results.
About HCAP Partners
HCAP Partners was founded in 2000 and is a provider of mezzanine debt and private equity for underserved lower-middle market companies throughout California and the Western United States. The firm seeks to invest $3 million to $25 million in established businesses generating between $10 million and $100 million in revenues in the healthcare, software, services, and manufacturing industries. HCAP Partners has invested in over 60 companies since its founding and through ongoing, active engagement with portfolio companies provides value-added resources to help optimize performance and increase enterprise value. The firm has been recognized as an ImpactAssets 50 fund nine years running and, through its Gainful Jobs Approach™, works to facilitate a positive impact on underserved businesses, their employees, and their communities through active portfolio engagement. For more information, please visit http://www.hcap.com/.